6.1 Monday ETH Afternoon Outlook

Today at noon, Ethereum moved in tandem with Bitcoin, maintaining a low-level weak oscillation pattern, building a base and gathering strength, with the current price hovering around the $1,990‑$2,000 range. Due to overall market sentiment being weak and risk appetite low, the market broke below the key psychological level of $2,000, with short-term rebound momentum insufficient, mainly consolidating sideways to form a bottom.

On the technical side, at the 4-hour level, the price continues to be pressured below the short-term moving averages, with a clear bearish alignment of the moving averages; the Bollinger Bands are generally trending downward, with the price in the middle-lower band range, the decline slowing but no clear reversal signal appearing. The MACD bearish momentum slightly converges, merely a weak recovery after overselling, with weak red momentum bars, indicating insufficient bullish attack strength; RSI remains in the low range, with weak buying support. Support levels are at $1,960‑$1,970, repeatedly tested and supported; resistance levels are at $2,030‑$2,050, forming a core pressure zone, with multiple rebounds facing resistance and failing to break through effectively.

Fundamentally, Ethereum spot ETFs continue to see outflows, with short-term market demand weakening, compounded by leverage contract liquidations, dragging down the market; however, the long-term positive factors such as Ethereum staking deflation logic and ecological upgrades still exist. The recent decline is mainly due to market sentiment dragging and short-term capital fleeing, not a deterioration of the fundamentals.

Currently, the market sentiment is very cautious, with trading volume continuously shrinking, and short-term oscillations are prominent. As a mainstream coin, Ethereum has strong elasticity; if Bitcoin stabilizes and begins a rebound from oversold levels, ETH will likely lead a recovery; otherwise, it will continue to consolidate weakly at low levels, mainly oscillating sideways while waiting for market sentiment to improve.

Trading suggestion: look for a rebound at 1900‑1895, with targets $BTC at 2020‑2030.